Bloomberg analyst #EricBalchunas noted that the #SEC did not comment on the #Ethereum spot #ETF application, unlike the case of #Bitcoin .
The weaker correlation between Ethereum spot and future ETFs suggests a less favorable outlook.

#HotTrends

#EricBalchunas
Sent from one of the issuers, ChinaAMC.. others to report in next few hours we hope

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📉 $ETH #EricBalchunas : Ethereum #ETF's Went Backward in First Month.. flows -$476m as the newbies couldn't cope with the Grayscale ETF (#ETHE ) outflow, too powerful a force (this is why I reiterated how heroic the New Nine bitcoin ones were).

But there is light at the end of the tunnel, and capital outflows from ETHE will decrease in the future.

#EricBalchunas
Global ETF flows are at $911b YTD, a near lock to break their ann record of $1.2T thanks to more contrib from non-US countries who are adding close to 40% of total vs 25% in 2021. Also, there's been 1,121 ETFs launched globally this year, which is also record pace.

@FOMO_INSIGHTS

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#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves

BTC ETF vs. Gold ETF 🧐

#EricBalchunas compared the inflow into #BTCETFS with Gold ETFs, highlighting that these assets are often used for diversification.

In just 9 months, #BTC☀ ETFs have attracted $17.7 billion, representing 5% of BTC's market capitalization.

In comparison, Gold ETFs account for only 1% of gold's #marketcap . 👀

Gold took 22 years to reach this level, while $BTC achieved it in just 9 months. 🚀

But let's be real—gold has a much bigger market cap. For now 😉.
#DODOEmpowersMemeIssuance